PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lifted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 4,965.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,728 shares of the company’s stock after buying an additional 51,687 shares during the period. Point72 Hong Kong Ltd’s holdings in PENN Entertainment were worth $994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment in the 3rd quarter valued at $45,000. Quest Partners LLC acquired a new position in PENN Entertainment in the 3rd quarter valued at $56,000. International Assets Investment Management LLC raised its position in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after buying an additional 3,057 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment in the 2nd quarter worth $83,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 79,200 shares of company stock worth $1,450,548. Corporate insiders own 2.19% of the company’s stock.

PENN Entertainment Trading Up 2.4 %

Shares of PENN Entertainment stock opened at $21.59 on Monday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average price of $19.60 and a 200 day moving average price of $18.84. The company has a market capitalization of $3.30 billion, a P/E ratio of -6.08 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. Sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PENN. Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, November 8th. Susquehanna decreased their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Bank of America initiated coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price on the stock. Finally, Macquarie upped their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.29.

PENN Entertainment Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.